Analysis: The administration’s response to the collapse of Silicon Valley Bank includes multiple insistences that this time isn’t like 2008.
, individuals who are not viewed sympathetically on the left. There’s no political upside in offering assistance to this bank.
“No losses — and this is an important point — no losses will be borne by the taxpayers,” Biden reiterated in brief comments about the situation on Monday. “Let me repeat that no losses will be borne by the taxpayers.” He added that there was a punitive element of the response: “The management of these banks will be fired. If the bank is taken over by FDIC, the people running the bank should not work there anymore.
in the Wall Street Journal arguing that the government’s efforts to contain the problem does, in fact, constitute a bailout.have been. Is any government deployment of assets in the financial industry a bailout, or is a bailout only using tax dollars to help keep risky banks afloat? The term itself has expanded to become a vague condemnation of government assistance to financial institutions or other corporate failures.
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